Pharmacy board suspends another Ohio weight loss clinic's license
Ohio weight-loss clinics continue to be disciplined over alleged unsafe practices and false claims that they pass regulatory muster.
The actions come as demand skyrockets for drugs similar to those that go by the brand names Ozempic, Wegovy, Zepbound and Mounjaro.
The Ohio Board of Pharmacy notified Slimbolic Weight Loss and Med Spa in Beavercreek that its license to distribute dangerous drugs was summarily suspended. The notice was accompanied by a 29-page document listing scores of alleged violations.
They included naming as the person responsible for the clinic a Maine doctor who had never been there, improper recordkeeping, storing adulterated drugs with those that weren't, and improperly labeled drugs. Pharmacy board inspectors said workers at the clinic were also compounding drugs without the proper supervision and that they were doing so in a non-sterile environment.
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The order said 'there is clear and convincing evidence of a danger of immediate and serious harm to others due to Slimbolic's method used to possess or distribute dangerous drugs, and the method of prescribing dangerous drugs used by a licensed health professional authorized to prescribe drugs who holds a terminal distributor license or practices in the employ of or under contract with a terminal distributor.'
A call placed to the clinic was not returned.
The board of pharmacy has been cracking down on weight-loss clinics as the clamor for GLP-1 drugs has risen. They facilitate weight loss by slowing gastric emptying. The resultant weight loss can ease impacts of obesity, including diabetes and heart disease.
But the pharmacy board has reported numerous abuses by Ohio spas and weight-loss clinics over the past year.
In January, the board suspended licenses to distribute dangerous drugs held by clinics in Cleveland, Cincinnati, Dayton and Columbus. It accused them of giving patients weight-loss drugs that were labeled 'for research use only' and that came from 'an unlicensed out-of-state-seller.'
In March, it suspended the license of Rejuv and Renew Wellness Spa, which has clinics in Maineville and Franklin, both in Warren County between Cincinnati and Dayton. The board said the spa was injecting patients with 'counterfeit' Botox that the operator said she'd gotten from a California dentist she wouldn't identify.
In a related matter, Ohio Attorney General Dave Yost recently warned 14 spas 'to stop making false or misleading claims about their versions of popular weight-loss drugs.'
'People deserve clear and accurate information about the medications they're putting in their bodies,' Yost said in a written statement. 'We're reminding businesses that being truthful isn't just a good business practice — it's the law.'
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(4) The income tax effects of adjustments are based on the effective income tax rates applicable to each adjustment. Three Months Ended June 30,Six Months Ended June 30,2025202420252024 GAAP selling, general and administrative expenses $ 3,036$ 2,894$ 6,389$ 6,112 Less:Acquisition and divestiture related expenses 16167 Restructuring costs —4—13 Adjusted selling, general and administrative expenses $ 3,035$ 2,884$ 6,388$ 6,032 To provide clarity on the way management defines certain key metrics and ratios, the Company is providing a description of how the metric or ratio is calculated as follows: Health Benefits Ratio (HBR) (GAAP) = Medical costs divided by premium revenues. SG&A Expense Ratio (GAAP) = Selling, general and administrative expenses divided by premium and service revenues. Adjusted SG&A Expense Ratio (non-GAAP) = Adjusted selling, general and administrative expenses divided by premium and service revenues. Adjusted Effective Tax Rate (non-GAAP) = GAAP income tax expense (benefit) excluding the income tax effects of adjustments to net earnings divided by adjusted earnings (loss) before income tax expense. Adjusted Net Earnings (non-GAAP) = Net earnings less amortization of acquired intangible assets, less acquisition and divestiture related expenses, as well as adjustments for other items, net of the income tax effect of the adjustments. Adjusted Diluted EPS (non-GAAP) = Adjusted net earnings divided by weighted average common shares outstanding on a fully diluted basis. Debt to Capitalization Ratio (GAAP) = Total debt, divided by total debt plus total stockholder's equity. Average Medical Claims Expense (GAAP) = Medical costs for the period divided by number of days in such period. Average medical claims expense is most often calculated for the quarterly reporting period. Days in Claims Payable (GAAP) = Medical claims liabilities divided by average medical claims expense. Days in claims payable is most often calculated for the quarterly reporting period. In addition, the following terms are defined as follows: State-directed Payments: Payments directed by a state that have minimal risk but are administered as a premium adjustment. These payments are recorded as premium revenue and medical costs at close to a 100% HBR. In many instances, the Company has little visibility to the timing of these payments until they are paid by a state. Pass-through Payments: Non-risk supplemental payments from a state that the Company is required to pass through to designated contracted providers. These payments are recorded as premium tax revenue and premium tax expense. About Centene Corporation Centene Corporation, a Fortune 500 company, is a leading healthcare enterprise that is committed to helping people live healthier lives. The Company takes a local approach – with local brands and local teams – to provide fully integrated, high-quality, and cost-effective services to government-sponsored and commercial healthcare programs, focusing on under-insured and uninsured individuals. Centene offers affordable and high-quality products to more than 1 in 15 individuals across the nation, including Medicaid and Medicare members (including Medicare Prescription Drug Plans) as well as individuals and families served by the Health Insurance Marketplace. Centene uses its investor relations website to publish important information about the Company, including information that may be deemed material to investors. Financial and other information about Centene is routinely posted and is accessible on Centene's investor relations website, Forward-Looking Statements All statements, other than statements of current or historical fact, contained in this press release are forward-looking statements. Without limiting the foregoing, forward-looking statements often use words such as "believe," "anticipate," "plan," "expect," "estimate," "guidance," "intend," "seek," "target," "goal," "may," "will," "would," "could," "should," "can," "continue" and other similar words or expressions (and the negative thereof). Centene Corporation and its subsidiaries (Centene, the Company, our or we) intends such forward-looking statements to be covered by the safe-harbor provisions for forward-looking statements contained in the Private Securities Litigation Reform Act of 1995, and we are including this statement for purposes of complying with these safe-harbor provisions. In particular, these statements include, without limitation, statements about our expected future operating or financial performance, changes in laws and regulations, market opportunity, expectations concerning pricing actions, competition, expected contract start dates and terms, expected activities in connection with completed and future acquisitions and dispositions, our investments, and the adequacy of our available cash resources. These forward-looking statements reflect our current views with respect to future events and are based on numerous assumptions and assessments made by us in light of our experience and perception of historical trends, current conditions, business strategies, operating environments, future developments, and other factors we believe appropriate. By their nature, forward-looking statements involve known and unknown risks and uncertainties and are subject to change because they relate to events and depend on circumstances that will occur in the future, including economic, regulatory, competitive, and other factors that may cause our or our industry's actual results, performance, or achievements to be materially different from any future results, performance, or achievements expressed or implied by these forward-looking statements. These statements are not guarantees of future performance and are subject to risks, uncertainties, and assumptions. All forward-looking statements included in this press release are based on information available to us on the date hereof. Except as may be otherwise required by law, we undertake no obligation to update or revise the forward-looking statements included in this press release, whether as a result of new information, future events, or otherwise, after the date hereof. You should not place undue reliance on any forward-looking statements, as actual results may differ materially from projections, estimates, or other forward-looking statements due to a variety of important factors, variables, and events including, but not limited to: our ability to design and price products that are competitive and/or actuarially sound; our ability to accurately predict and effectively manage health benefits and other operating expenses and reserves, including fluctuations in medical costs; rate cuts, insufficient rate changes or other payment reductions or delays by government payors affecting our government businesses; the effect of social, economic, and political conditions, geopolitical events and state and federal policies, including the amount and terms of state and federal funding for government-sponsored healthcare programs, including as a result of changes in U.S. presidential administrations or Congress; changes in federal or state laws or regulations, including changes with respect to income tax reform or government healthcare programs as well as changes with respect to the Patient Protection and Affordable Care Act and the Health Care and Education Affordability Reconciliation Act (collectively referred to as the ACA) and any regulations enacted thereunder, including the timing and terms of renewal or modification of the enhanced advance premium tax credits or program integrity initiatives that could have the effect of reducing membership or profitability of our products; unanticipated increased healthcare costs, including due to changes in consumer and provider behaviors, inflation and tariffs; our ability to maintain or achieve improvement in the Centers for Medicare and Medicaid Services (CMS) Star ratings and maintain or achieve improvement in other quality scores in each case that could impact revenue and future growth; competition, including for providers, broker distribution networks, contract reprocurements and organic growth; our ability to adequately anticipate demand and timely provide for operational resources to maintain service level requirements in compliance with the terms of our contracts and state and federal regulations; our ability to comply with the terms of our contracts and state and federal regulations and our ability to effectively oversee our third-party vendors to comply with the terms of their contracts with us and state and federal regulations; our ability to manage our information systems effectively; disruption, unexpected costs, or similar risks from business transactions, including acquisitions, divestitures, and changes in our relationships with third-party vendors; impairments to real estate, investments, goodwill and intangible assets; changes in senior management, loss of one or more key personnel or an inability to attract, hire, integrate and retain skilled personnel; membership and revenue declines or unexpected trends; changes in healthcare practices, new technologies, and advances in medicine; our ability to effectively and ethically use artificial intelligence and machine learning in compliance with applicable laws; changes in macroeconomic conditions, including inflation, interest rates and volatility in the financial markets; negative public perception of the Company and the managed care industry; uncertainty concerning government shutdowns, debt ceilings or funding; tax matters; disasters, climate-related incidents, acts of war or aggression or major epidemics; changes in expected contract start dates and terms; changes in provider, broker, vendor, state, federal and other contracts and delays in the timing of regulatory approval of contracts, including due to protests and our ability to timely comply with any such changes to our contractual requirements or manage any unexpected delays in regulatory approval of contracts; the expiration, suspension, or termination of our contracts with federal or state governments (including, but not limited to, Medicaid, Medicare or other customers); the difficulty of predicting the timing or outcome of legal or regulatory audits, investigations, proceedings or matters including, but not limited to, our ability to resolve claims and/or allegations on acceptable terms, or at all, or whether additional claims, reviews or investigations will be brought; challenges to our contract awards; cyber-attacks or other data security incidents or our failure to comply with applicable privacy, data or security laws and regulations; the exertion of management's time and our resources, and other expenses incurred and business changes required in connection with complying with the terms of our contracts and the undertakings in connection with any regulatory, governmental, or third party consents or approvals for acquisitions or dispositions; any changes in expected closing dates, estimated purchase price, or accretion for acquisitions or dispositions; losses in our investment portfolio; restrictions and limitations in connection with our indebtedness; a downgrade of our corporate family rating, issuer rating or credit rating of our indebtedness; the availability of debt and equity financing on terms that are favorable to us and risks and uncertainties discussed in the reports that Centene has filed with the Securities and Exchange Commission (SEC). This list of important factors is not intended to be exhaustive. We discuss certain of these matters more fully, as well as certain other factors that may affect our business operations, financial condition, and results of operations, in our filings with the SEC, including our annual report on Form 10-K, quarterly reports on Form 10-Q and current reports on Form 8-K. Due to these important factors and risks, we cannot give assurances with respect to our future performance, including without limitation our ability to maintain adequate premium levels or our ability to control our future medical and selling, general and administrative costs. CENTENE CORPORATION AND SUBSIDIARIES CONSOLIDATED BALANCE SHEETS (In millions, except shares in thousands and per share data in dollars) June 30,2025December 31, 2024(Unaudited) ASSETSCurrent assets:Cash and cash equivalents $ 14,513$ 14,063 Premium and trade receivables 21,55219,713 Short-term investments 2,7682,622 Other current assets 1,5561,601 Total current assets 40,38937,999 Long-term investments 18,79717,429 Restricted deposits 1,4111,390 Property, software and equipment, net 2,1222,067 Goodwill 17,55817,558 Intangible assets, net 5,0105,409 Other long-term assets 1,108593 Total assets $ 86,395$ 82,445 LIABILITIES, REDEEMABLE NONCONTROLLING INTERESTS AND STOCKHOLDERS' EQUITYCurrent liabilities:Medical claims liability $ 20,117$ 18,308 Accounts payable and accrued expenses 13,52013,174 Return of premium payable 2,4422,008 Unearned revenue 682661 Current portion of long-term debt 25110 Total current liabilities 36,78634,261 Long-term debt 17,55218,423 Deferred tax liability 651684 Other long-term liabilities 3,9032,567 Total liabilities 58,89255,935 Commitments and contingenciesRedeemable noncontrolling interests 1110 Stockholders' equity:Preferred stock, $0.001 par value; authorized 10,000 shares; no shares issued or outstanding at June 30, 2025 and December 31, 2024 —— Common stock, $0.001 par value; authorized 800,000 shares; 622,834 issued and 491,128 outstanding at June 30, 2025, and 620,195 issued and 495,907 outstanding at December 31, 2024 11 Additional paid-in capital 20,67120,562 Accumulated other comprehensive (loss) (231)(504) Retained earnings 16,40615,348 Treasury stock, at cost (131,706 and 124,288 shares, respectively) (9,441)(8,997) Total Centene stockholders' equity 27,40626,410 Nonredeemable noncontrolling interest 8690 Total stockholders' equity 27,49226,500 Total liabilities, redeemable noncontrolling interests and stockholders' equity $ 86,395$ 82,445 CENTENE CORPORATION AND SUBSIDIARIES CONSOLIDATED STATEMENTS OF OPERATIONS (In millions, except shares in thousands and per share data in dollars) (Unaudited) Three Months Ended June 30,Six Months Ended June 30,2025202420252024 Revenues:Premium $ 41,740$ 35,140$ 83,452$ 70,669 Service 7278331,5041,641 Premium and service revenues 42,46735,97384,95672,310 Premium tax 6,2753,86310,4067,933 Total revenues 48,74239,83695,36280,243 Expenses:Medical costs 38,80830,76575,31161,697 Cost of services 6416801,3391,349 Selling, general and administrative expenses 3,0362,8946,3896,112 Depreciation expense 141133283268 Amortization of acquired intangible assets 173173346346 Premium tax expense 6,3463,96210,5638,123 Impairment 55—5513 Total operating expenses 49,20038,60794,28677,908 Earnings (loss) from operations (458)1,2291,0762,335 Other income (expense):Investment and other income 3714637531,008 Interest expense (170)(176)(340)(354) Earnings (loss) before income tax (257)1,5161,4892,989 Income tax expense 2370434685 Net earnings (loss) (259)1,1461,0552,304 Loss attributable to noncontrolling interests 6—35 Net earnings (loss) attributable to Centene Corporation $ (253)$ 1,146$ 1,058$ 2,309 Net earnings (loss) per common share attributable to Centene Corporation: Basic earnings (loss) per common share $ (0.51)$ 2.16$ 2.14$ 4.34 Diluted earnings (loss) per common share $ (0.51)$ 2.16$ 2.13$ 4.32 Weighted average number of common shares outstanding: Basic 493,548529,602494,896532,385 Diluted 493,548530,755496,328534,517 CENTENE CORPORATION AND SUBSIDIARIES CONSOLIDATED STATEMENTS OF CASH FLOWS (In millions, unaudited) Six Months Ended June 30,20252024 Cash flows from operating activities:Net earnings $ 1,055$ 2,304 Adjustments to reconcile net earnings to net cash provided by operating activitiesDepreciation and amortization 629614 Stock compensation expense 94132 Impairment 5513 Deferred income taxes (116)40 (Gain) loss on divestitures, net 10(103) Other adjustments, net 16(11) Changes in assets and liabilities Premium and trade receivables (1,801)(1,059) Other assets (543)(404) Medical claims liabilities 1,809173 Unearned revenue 21(118) Accounts payable and accrued expenses 209(1,704) Other long-term liabilities 1,8571,838 Other operating activities, net —4 Net cash provided by operating activities 3,2951,719 Cash flows from investing activities:Capital expenditures (343)(337) Purchases of investments (3,593)(3,434) Sales and maturities of investments 2,5082,497 Divestiture proceeds, net of divested cash —959 Net cash (used in) investing activities (1,428)(315) Cash flows from financing activities:Proceeds from long-term debt 750350 Payments and repurchases of long-term debt (1,707)(565) Common stock repurchases (473)(954) Proceeds from common stock issuances 1825 Other financing activities, net (12)(4) Net cash (used in) financing activities (1,424)(1,148) Effect of exchange rate changes on cash, cash equivalents and restricted cash —7 Net increase in cash, cash equivalents and restricted cash and cash equivalents 443263 Cash, cash equivalents and restricted cash and cash equivalents, beginning of period 14,15617,452 Cash, cash equivalents and restricted cash and cash equivalents, end of period $ 14,599$ 17,715 Supplemental disclosures of cash flow information:Interest paid $ 320$ 352 Income taxes paid, net $ 504$ 551 The following table provides a reconciliation of cash, cash equivalents and restricted cash and cash equivalents reported within the Consolidated Balance Sheets to the totals above:June 30,20252024 Cash and cash equivalents $ 14,513$ 17,605 Restricted cash and cash equivalents, included in restricted deposits 86110 Total cash, cash equivalents and restricted cash and cash equivalents $ 14,599$ 17,715 CENTENE CORPORATION SUPPLEMENTAL FINANCIAL DATA Q2Q1Q4Q3Q2 20252025202420242024 MEMBERSHIPTraditional Medicaid (1) 11,227,40011,369,40011,408,10011,478,60011,640,900 High Acuity Medicaid (2) 1,592,3001,589,4001,595,4001,590,2001,499,000 Total Medicaid 12,819,70012,958,80013,003,50013,068,80013,139,900 Marketplace 5,862,8005,626,0004,382,1004,501,3004,401,300 Individual and Commercial Group (3) 449,700448,200431,400426,600426,400 Total Commercial 6,312,5006,074,2004,813,5004,927,9004,827,700 Medicare (4) 1,026,9001,043,2001,110,9001,129,9001,138,400 Medicare PDP 7,845,8007,867,8006,925,7006,766,4006,603,600 Total at-risk membership 28,004,90027,944,00025,853,60025,893,00025,709,600 TRICARE eligibles ——2,747,0002,747,0002,768,000 Total 28,004,90027,944,00028,600,60028,640,00028,477,600 (1) Membership includes TANF, Medicaid Expansion, CHIP, Foster Care and Behavioral Health. (2) Membership includes ABD, IDD, LTSS and MMP Duals. (3) Membership includes Commercial Group, ICHRA and Other Off-Exchange Individual. (4) Membership includes Medicare Advantage and Medicare Supplement. NUMBER OF EMPLOYEES 60,30060,40060,50060,70060,000 DAYS IN CLAIMS PAYABLE 4749535154 CASH, INVESTMENTS AND RESTRICTED DEPOSITS (in millions) Regulated $ 36,403$ 35,922$ 34,433$ 35,558$ 37,421 Unregulated 1,0861,0421,0711,1541,078 Total $ 37,489$ 36,964$ 35,504$ 36,712$ 38,499 DEBT TO CAPITALIZATION 39.0 %39.5 %41.2 %39.1 %39.1 % OPERATING RATIOS Three Months Ended June 30,Six Months Ended June 30,2025202420252024 HBR 93.0 %87.6 %90.2 %87.3 % SG&A expense ratio 7.1 %8.0 %7.5 %8.5 % Adjusted SG&A expense ratio 7.1 %8.0 %7.5 %8.3 % HBR BY PRODUCT Three Months Ended June 30,Six Months Ended June 30, 2025202420252024 Medicaid 94.9 %92.8 %94.2 %91.8 % Commercial 90.6 %73.4 %82.8 %73.4 % Medicare (5) 90.9 %89.2 %88.6 %90.0 % (5) Medicare includes Medicare Advantage, Medicare Supplement, D-SNPs and Medicare PDP. MEDICAL CLAIMS LIABILITY The changes in medical claims liability are summarized as follows (in millions): Balance, June 30, 2024$ 18,173 Less: Reinsurance recoverables58 Balance, June 30, 2024, net18,115 Incurred related to: Current period141,488 Prior periods(2,221) Total incurred139,267 Paid related to: Current period123,150 Prior periods14,229 Total paid137,379 Plus: Premium deficiency reserve54 Balance, June 30, 2025, net20,057 Plus: Reinsurance recoverables60 Balance, June 30, 2025$ 20,117 Centene's claims reserving process utilizes a consistent actuarial methodology to estimate Centene's ultimate liability. Any reduction in the "Incurred related to: Prior periods" amount may be offset as Centene actuarially determines the "Incurred related to: Current period." Additionally, approximately $124 million was recorded as a reduction to premium revenues resulting from development within "Incurred related to: Prior periods" due to minimum HBR and other return of premium programs. The amount of the "Incurred related to: Prior periods" above represents favorable development and includes the effects of reserving under moderately adverse conditions, new markets where we use a conservative approach in setting reserves during the initial periods of operations, receipts from other third party payors related to coordination of benefits and lower medical utilization and cost trends for dates of service June 30, 2024, and prior. View original content: SOURCE Centene Corporation Error while retrieving data Sign in to access your portfolio Error while retrieving data Error while retrieving data Error while retrieving data Error while retrieving data
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Mergers and Acquisitions Fuel Growth, Telehealth Adoption Boosts Software Usage
The US Long Term Care Market is projected to reach USD 729.78 billion by 2030, growing at a CAGR of 7.71% from 2025. Key growth drivers include the rising prevalence of chronic diseases, an increasing geriatric population, and technological advancements. Nursing care centers lead the market. U.S. Long Term Care Market Dublin, July 25, 2025 (GLOBE NEWSWIRE) -- The "U.S. Long Term Care Market Size, Share & Trends Analysis Report By Service (Home Health Care, Hospices, Nursing care, Assisted living facilities), By Payer (Public, Private), And Segment Forecasts, 2025 - 2030" has been added to offering. The U.S. long-term care market is poised for significant growth, anticipated to reach USD 729.78 billion by 2030 with a CAGR of 7.71% from 2025 to 2030 Key drivers include the high incidence of chronic diseases such as Alzheimer's, heart diseases, and diabetes, as reported by the CDC, which notes that 60% of adults are affected by chronic conditions. The aging population, escalating healthcare costs, and the prevalence of nuclear families are further propelling the market growth. Additionally, advancements in technology and the accessibility of Medicare, Medicaid, and private insurance contribute substantially to the market expansion. The U.S. government supports long-term care initiatives through regulations like the New York State Public Health Law Article 21-A, mandating pneumococcal and influenza vaccinations for residents and healthcare professionals in facilities. Consequently, demand for immunization resources in long-term care facilities is surging. The healthcare system's focus on treating COVID-19 has led to the neglect of chronic conditions, increasing demand for long-term care services such as skilled nursing, home healthcare, and assisted living facilities. These services alleviate the burden on hospitals by providing essential care and post-surgery recovery. In 2021, data from the American Hospital Association indicated over 36 million hospitalizations in the U.S., underscoring the need for long-term care solutions. U.S. Long Term Care Market Report Highlights Nursing care facilities held a revenue share of 35.48% in 2024, attributed to their widespread presence and comprehensive medical services. The demand for long-term care is expanding beyond the elderly to include varied age groups, presenting opportunities for home healthcare providers. Strategic mergers and partnerships are reshaping the market landscape. In October 2021, Amedisys expanded its home healthcare services in North Carolina, and in May 2025, Sunrise Senior Living partnered with Griffin Living to enhance senior living options in California. Group purchasing organizations like GeriMed are critical to the sector, ensuring efficient distribution of medical supplies and pharmaceuticals to long-term care facilities. The adoption of telehealth solutions since 2020 is boosting the uptake of long-term care software, with home healthcare centers and skilled nursing facilities leading adoption rates. Why should you buy this report? Gain comprehensive insights into the global market, segmented by region. Explore the competitive landscape and market standing of key players globally. Identify future trends and drivers shaping the market's trajectory. Leverage actionable recommendations to uncover new revenue avenues and inform strategic decisions. Key Attributes: Report Attribute Details No. of Pages 100 Forecast Period 2024 - 2030 Estimated Market Value (USD) in 2024 $470.66 Billion Forecasted Market Value (USD) by 2030 $729.78 Billion Compound Annual Growth Rate 7.7% Regions Covered United States Companies Featured Brookdale Senior Living, Inc Sunrise Senior Living, LLC Kindred Healthcare Amedisys, Inc Genesis Healthcare, Inc Capital Senior Living Corporation Diversicare Healthcare Services, Inc Home Instead, Inc. Senior Care Centerz Atria's Senior Living For more information about this report visit About is the world's leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends. Attachment U.S. Long Term Care Market CONTACT: CONTACT: Laura Wood,Senior Press Manager press@ For E.S.T Office Hours Call 1-917-300-0470 For U.S./ CAN Toll Free Call 1-800-526-8630 For GMT Office Hours Call +353-1-416-8900Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data